DA: Westchester man swindled via baseball venture

The News Leader

November 25, 2010 6:41:15 AM PST
Prosecutors say a suburban New York man lured investors into backing his plan for a children's baseball facility, then stole most of the money to pay his mortgage and other expenses.

Frank Schwall pleaded not guilty Wednesday to grand larceny and other charges. Defense lawyer Andrew Proto says Schwall "absolutely denies doing anything criminal."

Westchester County prosecutors say 46-year-old Schwall formed Big Apple LLC in 2006 to build an indoor baseball training center for children. They say he got investments as big as $50,000, partly by falsely claiming he'd contributed $200,000 of his own and had a site lined up.

Prosecutors say most of backers' money ended up in Schwall's personal bank accounts, and some paid the mortgage on his Scarsdale home.

Information from: The Journal News, http://www.thejournalnews.com

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